比特币（BTC）储备金，货币政策和对贸易战争的恐惧正在激发市场

意见：由于对正在进行的贸易战争和货币政策的担忧，加密货币市场在3月下降。根据Binance的一份新报告，尽管如此，交易者并未放弃比特币。

Crypto markets experienced a decline in March due to concerns over the ongoing trade war and monetary policy. Still, traders have not given up on Bitcoin, according to a new report from Binance.

由于对正在进行的贸易战争和货币政策的担忧，加密货币市场在3月的下降。根据Binance的一份新报告，尽管如此，交易者并未放弃比特币。

On April 4, Binance published a report on the state of the crypto market last month, highlighting key trends.

4月4日，Binance上个月发布了有关加密货币市场状况的报告，强调了关键趋势。

The overall crypto market declined by 4.4% in March. A primary driver of this volatility was tariff tensions, as U.S. President Donald Trump threatened a trade war with most of the U.S.’s major trading partners. This was enough to drag down both crypto and stock prices, despite several positive developments.

三月份的整体加密货币市场下降了4.4％。这种波动性的主要驱动力是关税紧张局势，因为美国总统唐纳德·特朗普（Donald Trump）威胁要与美国大多数主要贸易伙伴进行贸易战。尽管有一些积极的发展，但这足以拖延加密和股价。

For one, the Federal Reserve signaled a pause to its tightening policy. This was good news for risk assets like crypto, which saw prices drop due to reduced liquidity. At the same time, the Bitcoin strategic reserve push was a major driver of positive sentiment for the biggest crypto asset.

首先，美联储标志着其紧缩政策的停顿。对于像加密货币这样的风险资产，这是个好消息，由于流动性降低，价格下跌。同时，比特币战略储备金推动是最大的加密资产积极情绪的主要驱动力。

Memecoins down, Bitcoin remains strong: Binance

模因降低，比特币保持强大：binance

The increased volatility contributed to a sharp decline across several market segments, particularly memecoins. Notably, the memecoin launchpad Pump.fun saw a significant drop in activity, indicating that the memecoin market may have peaked.

波动性的提高导致了几个市场细分市场，特别是成员的急剧下降。值得注意的是，Memecoin LaunchPad泵。FUN的活动大幅下降，表明Memecoin市场可能已经达到顶峰。

This decline began shortly after Trump’s inauguration and coincided with the launch of several TRUMP-themed memecoins. Trading volumes on Pump.fun are down 69.9%, dropping from $33.3 billion to $1 billion. Meanwhile, the number of active wallets decreased by 45.1% to 1.44 million, and new token creation fell by 51.8%.

在特朗普就职典礼后不久，这种下降就开始了，并恰逢几个以特朗普主题的成员的推出。泵的交易量下降了69.9％，从333亿美元下降到10亿美元。同时，活动钱包的数量减少了45.1％，至144万，而新的代币创建下降了51.8％。

In the DeFi space, Uniswap saw its dominance erode as emerging competitors gained ground, with market share falling from 45% in April 2024 to 29% in March 2025. Notably, BNB-based PancakeSwap surpassed Uniswap in volume, mainly driven by its lower transaction fees.

在Defi空间中，随着新兴竞争对手的发展，UNISWAP的统治地位侵蚀了，市场份额从2024年4月的45％下降到2025年3月的29％。值得注意的是，基于BNB的Pancakeswap的数量超过了额外的UNISWAP，主要由较低的交易费用驱动。

Despite these broader shifts in the crypto market, Bitcoin has retained its status as a haven for many traders. The amount of BTC held by long-term holders continues to grow. Additionally, Bitcoin’s DeFi ecosystem is expanding rapidly. In a year-over-year comparison, the value locked in Bitcoin DeFi has surged by 2,767%, rising from $0.3 billion to $8.6 billion.

尽管在加密市场上发生了更广泛的转变，但比特币仍保留了许多交易者的避风港地位。长期持有人持有的BTC数量继续增长。此外，比特币的Defi生态系统正在迅速扩展。在同比的比较中，锁定比特币Defi的价值飙升了2,767％，从3亿美元增加到86亿美元。